The stock closed on Friday at a price that is more than 100 times sales (sales, not earnings) and 300 times cash flow. It’s even higher today. Does this seem even vaguely familiar to anyone?
It’s getting crazy out there, folks. Be careful.
Larry
Gary
Re: BIDU
August 8 2005, 10:58 AM
It appears that investors are afraid of missing the next GOOG. I have my doubts about BIDU being it. Come to think of it I still have my doubts about GOOG. I'm still in the running on my last short call on GOOG
Gary
joeaaron
bidu
August 8 2005, 1:14 PM
i did not buy BIDU. i don't buy IPO's. actually, i'm looking to unload most of my longs xcept for the energy, metal & commodities.
larry, what's your tho't about canadian & aussie country ETF's? they are pretty heavy commodity-based economies aren't they?
just a tho't.
-ja
Re: BIDU
August 8 2005, 1:53 PM
Joe,
I like them both - EWA and EWC. In fact, I should be long both in the weekly PSAR. They both gave buy signals several weeks ago. Somehow I missed them. I think I was thinking more in terms of Asia at the time.
Larry
Gary
Re: BIDU
August 8 2005, 9:12 PM
Joe,
By the way I was just kidding about BIDU.
Larry,
While I was in Canada the last few weeks we found the Canadian oil companies are going like gangbusters. They are so desperate for employees they'll hire almost any kid off the street. A lot of the people we met in any campground were either on a break from or on their way to work in the oil fields. Any suggestions on Canadian drillers and service companies?
Gary
Re: BIDU
August 9 2005, 5:20 AM
Gary,
We bought CNQ and PDS on 5/27. Didn't even have to go to Canada. Just followed the dots.
Larry
Gary
Re: BIDU
August 9 2005, 8:15 AM
I also bought PDS a while back but I missed CNQ. Guess I'll wait for a pullback
Gary
joeaaron
ptf
August 9 2005, 10:11 AM
gary,
re: "canadian oil" one of larry's other SAR picks is PTF.
according to yahoofinance.com
Petrofund Energy Trust operates as an open-ended investment trust. Through its wholly owned subsidiary, Petrofund Corp. (PC), the company engages in the acquisition, management, and disposition of petroleum and natural gas rights, and royalties and related property rights and interests primarily in western Canada. PC primarily produces light and medium oil, natural gas, and natural gas liquids. As of December 31, 2003, PC had proved and probable reserves of 53.4 thousands of barrels (mbbls) of oil, 248.7 billions of cubic feet of natural gas, and 7.2 mbbls of natural gas liquids. The company was created under the laws of Ontario in 1988 as NCE Petrofund I and changed its name to NCE Petrofund in 1996. Subsequently, the name was changed to Petrofund Energy Trust in 2003. Petrofund is headquartered in Calgary, Canada.
